The Maloof family is finalizing an agreement to sell the Sacramento Kings to a group that hopes to move the franchise to Seattle for the 2013-14 season, league sources told Yahoo! Sports.

Kings co-owners George, Gavin and Phil Maloof are expected to keep …

The deal will sell the Kings for approximately $500 million to a group led by hedge-fund manager Chris Hansen and Microsoft chairman Steve Ballmer. The group is seeking to relocate the franchise to Seattle's KeyArena for the 2013-14 season.

The Seattle group's plans, with support of the NBA, is to play two seasons in KeyArena before moving into a new Seattle arena, sources said.

No agreement has been signed, but one source with knowledge of the talks described the deal as "first and goal at the 1." Sources said it will take "some time" to get a formal agreement in place. The Maloofs' history of changing course late in negotiations still has some uneasy about getting the sale completed. The Maloofs previously neared a deal with Sacramento leaders to help finance a new arena in the city before backing out.

The Maloofs are expected to keep an extremely small percentage of the team, but will have no real input or say in the franchise, sources said.

Once the sale is completed, the Seattle-based group will have until March to file for relocation. NBA commissioner David Stern has been a big proponent of the Hansen-Ballmer group, and league officials will work diligently to help the franchise move to Seattle if the sale is finalized, sources said. The Seattle-based group is determined to not have the franchise spend a final lame-duck season in Sacramento.

The prospective Seattle ownership plans are to change the Kings' name and logos back to the original proprietors of the city's NBA history: the Sonics. "Same name and logos," a source working with the group told Y! Sports.

When owner Clay Bennett moved the Sonics franchise to Oklahoma City in 2008, he left behind the name, logos and history.

The Kings' status in Sacramento has been tenuous since the arena deal fell apart near the end of last season.

Too bad for the Kings, but I loved the Sonics. Grew up watching Kemp and Payton. Glad to see them back again.

Though, as much as I like the Sonics, I hate OKC equally. All was done by lying, and cost us the good franchise, now that it's back, Sac-Town will lose a franchise, and the fans there don't deserve that. Maloofs are pathetic.

And Sonics got Durant, and now they won't have him...they'll get Cousins instead.

A good reminder...or if there are some of you who didn't watch it yet:

After that, you can get as close as possible to how the Sacramento fans are feeling right now, and also, how much the Seattle fans are happy, after years of hoping. Though, I'm sure they feel a bit sad because of the Kings, cause they've been through the same thing.

Maloofs suck. They lie, cheat, and steal... karma is that they are deep in debt. I am not a kings fan (obviously) but I am a proud Sacramento resident. The city deserves a sports team. And they got 20 investers who have a group in place to save it. But the Maloofs hate the Mayor so they are ignoring him.

Only positive thing is that they are moving up to Seattle, which deserves it much more than Kansas City, Virginia Beach, and Anaheim (three locations that were rumored to be interested in relocating the Kings).

Mr. Crackerz wrote:Maloofs suck. They lie, cheat, and steal... karma is that they are deep in debt. I am not a kings fan (obviously) but I am a proud Sacramento resident. The city deserves a sports team. And they got 20 investers who have a group in place to save it. But the Maloofs hate the Mayor so they are ignoring him.

Only positive thing is that they are moving up to Seattle, which deserves it much more than Kansas City, Virginia Beach, and Anaheim (three locations that were rumored to be interested in relocating the Kings).

I would of loved to seen the Kings in either Virginia Beach or Anaheim.

Virginia Beach cause there would of had to been a conference realignment (Can't say Virginia is in the Pacific)

Anaheim because it would of tipped the scales in the LA LAKERS of being a premier free agency destination (they will always rule supreme, this rut they are in is only temporary.. But players don't exactly line up to go play for the Clippers because they are a joke of a franchise, a team in Anaheim would of made the Pacific division a lot more level playing field at mostly the Lakers expense)

But I wonder if the Sonics will stay in the Pacific??? Give us Portland please.

Actually would of loved to seen the Kings in the Bay Area playing out of San Jose or Oakland in 2017.

Lacob can't play exclusive rights on Bay Area market... But yeah it would of taken awhile for them to build their fanbase here in the 510, 415 as this is Warriors country.. Still I think they'd have the fanbase after a couple of years.

The problem here is...why did Stern move Sonics in the first place. That's 10th biggest market in the US, and he moved it to 42nd or something, in OKC. Now, you are moving team back to that 10th market, but are losing 23rd if I remember correctly. Does anyone see something not too logical? Stern pretty much did all this to give his friend, Clay Bennett, an NBA team.

So, that's the only person who should be blamed, Stern...or Bennett, for lying Seattle fans since the very beginning.